Nordstrom’s (JWN) Overweight Rating Reaffirmed at KeyCorp
KeyCorp reaffirmed their overweight rating on shares of Nordstrom, Inc. (NYSE:JWN) in a report published on Thursday morning. The brokerage currently has a $55.00 price objective on the specialty retailer’s stock.
Other analysts have also recently issued research reports about the company. Vetr cut Nordstrom from a sell rating to a strong sell rating and set a $41.54 price target for the company. in a report on Wednesday, July 5th. UBS AG cut Nordstrom from a buy rating to a neutral rating and lowered their price target for the company from $51.00 to $46.00 in a report on Friday, June 9th. Robert W. Baird set a $50.00 price target on Nordstrom and gave the company a hold rating in a report on Saturday, August 12th. Guggenheim restated a neutral rating on shares of Nordstrom in a report on Friday, June 9th. Finally, Zacks Investment Research upgraded Nordstrom from a hold rating to a buy rating and set a $53.00 price target for the company in a report on Thursday, August 10th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $48.26.
Shares of Nordstrom (JWN) opened at 46.74 on Thursday. The firm has a market cap of $7.77 billion, a PE ratio of 22.14 and a beta of 0.82. The stock’s 50 day moving average is $45.84 and its 200 day moving average is $45.62. Nordstrom has a 12 month low of $39.53 and a 12 month high of $62.82.
Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 EPS. On average, analysts anticipate that Nordstrom will post $2.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Thursday, August 24th. Nordstrom’s payout ratio is 70.14%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC raised its position in shares of Nordstrom by 12.7% in the 1st quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock valued at $104,000 after purchasing an additional 236 shares in the last quarter. Gemmer Asset Management LLC raised its position in shares of Nordstrom by 0.8% in the 2nd quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock valued at $109,000 after purchasing an additional 18 shares in the last quarter. NEXT Financial Group Inc raised its position in shares of Nordstrom by 55.4% in the 2nd quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock valued at $126,000 after purchasing an additional 942 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Nordstrom by 6,460.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock valued at $131,000 after purchasing an additional 2,778 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Nordstrom by 32.0% in the 2nd quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock valued at $152,000 after purchasing an additional 771 shares in the last quarter. 63.14% of the stock is currently owned by institutional investors.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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